TLDR:
- The success of getting startups plugged into a large corporation lies in designing the investment program strategically.
- Having clear communication and alignment between the startup and corporate stakeholders is crucial for successful collaboration.
In the article “How to get startups plugged into a large corporation,” the author Fernando Moncada Rivera discusses the strategies and challenges of bridging the gap between startups and large corporations. The key elements highlighted in the article include:
Designing the investment program strategically from the ground up is essential for successful onboarding of startups. By aligning the investment thesis with the challenges and goals of the corporate business units, the pull factor for collaboration can be built-in. Collaboration challenges are best addressed at the thesis level to ensure a focused and productive partnership.
Clear communication and alignment between the startup and corporate stakeholders are crucial for successful collaboration. Investing in startups that solve specific problems faced by the corporate business units can increase the likelihood of finding a home for the technology within the parent company. Constant communication, involvement of relevant stakeholders, and setting periodic milestones are key strategies to ensure a smooth collaboration journey.
Managing expectations and avoiding dependency on a single corporate partner are essential for startup success. Startups should actively seek partnerships with multiple corporates to avoid delays in milestones and financial validation. Building relationships internally, showcasing financial benefits, and aligning with corporate strategies are vital for gaining support and approval for startup initiatives.
Understanding the touchpoints within the corporate structure and identifying key decision-makers who value innovation is crucial for startup success. Navigating corporate politics, managing supplier relationships, and leveraging alternative routes for collaboration are essential strategies for startups looking to plug into a large corporation. Consistency, patience, and a willingness to take risks are key attributes that can lead to successful collaborations between startups and large corporations.
